Pakatan targets RM49.5b yearly savings to fund programmes

Boo Su-Lyn, The Malaysian Insider

Pakatan Rakyat (PR) aims to save about RM49.5 billion annually on federal government procurements and projects in order to finance economic programmes costing RM45.8 billion annually, should it win Election 2013.

PKR strategy director Rafizi Ramli told reporters today that the opposition pact would emulate the Selangor PR government that saved 24 per cent on road projects from January to September 2012.

“We’ll save RM49.5 billion, which is 24 per cent of the (RM206.4 billion) expenditure,” said Rafizi, referring to the cost of existing government procurements and projects this year.

Rafizi pointed out that PR’s economic agenda would cost RM45.8 billion, comprising the scrapping of toll payments, the reduction of excise duties, a national housing scheme, teachers’ special allowances, dismantling the National Higher Education Fund Corporation (PTPTN), and 20 per cent oil royalties

Other initiatives include the Caruman Wanita Nasional scheme, bonuses for senior citizens, a fund for minimum wage, People’s Pioneer Scheme to train school-leavers, 20 per cent contribution to the Armed Forces Fund board (LTAT), veterans’ dividends, an increase of buses in the Klang Valley, free wards at government hospitals, and an increase in welfare aid.

PR unveiled its election manifesto on Monday, promising a complete revamp of the country’s economic approach with the aim of ensuring every Malaysian household draws a minimum monthly income of RM4,000 by the end of its first term.